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The Synthetix protocol’s native stablecoin, Synthetix USD (sUSD), fell to its lowest value in five years, extending a months-long struggle to maintain its $1 peg.
The asset has faced persistent instability since the start of 2025. On Jan. 1, sUSD dropped to $0.96 and only rebounded to $0.99 in early February. Prices continued to fluctuate through February before stabilizing in March.
On April 10, sUSD fell to a five-year low of $0.83, according to data from CoinGecko.
SUSD is a crypto-collateralized stablecoin. Users lock up SNX tokens to mint sUSD,…
